Friday free-for-all! August 16th 2019

Its the end of another week and that means its time for another open topic discussion thread for the weekend.

Friday free-for-all time!

Here are a few recent links to kick off the chat:

We are the 112th best city in Canada

Not allowed to publish price data?

childless cities

money laundering inquiry should focus on RE

soaring price to return with falling rates?

So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!

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[…] –empty home tax working […]

No Moderated Posts
No Moderated Posts
11 months ago

The Crisis of Credit Visualized

https://www.youtube.com/watch?v=bx_LWm6_6tA

this illustrates how we hit the financial wall … and it will happen again.

paulb
paulb
11 months ago
Shut It Down Already (original)
Shut It Down Already (original)
11 months ago
Reply to  paulb

20K party!

Best place on meth
Best place on meth
11 months ago
Reply to  paulb

As always, thanks Paul and we appreciate you as one of the good guys in the real estate industry.

Would you be able to answer my question below regarding commissions?

Bubble
Bubble
11 months ago

Realtor rankings: Foreign buyer exodus hits realtors hard
Some interesting numbers.
https://openhousing.ca/2019/08/08/realtor-rankings-foreign-buyer-exodus-hits-realtors-hard/

Best place on meth
Best place on meth
11 months ago
Reply to  Bubble

Layla Yang drops from 4th place to #38.

$134 million in sales down to 26 million.

How is she going to keep the Harbin mafia on her payroll with those kinds of numbers?

Bubble
Bubble
11 months ago

Yes, but with the commission she is still way ahead of many doctors’ earnings. Such an easy / good life!

Best place on meth
Best place on meth
11 months ago
Reply to  Bubble

What’s a realtor’s take from gross sales?

Commission is split between buyer and seller agents, there’s a cut to the agency and to assistants for the bigshots like Layla “Harbin mafia” Yang.

Somewhere around 1%?

Paul?

No Moderated Posts
No Moderated Posts
11 months ago

they get 25% of the 50% of the 100% then out of their 25% they have to pay their assistants, and all their other expenses like their desk charge and advertising. However they can claim those back from their income taxes as business expenses from their income. Also any “reciprocity” is paid by the realtor, not the agency.

YVR
YVR
11 months ago

For $26 million her gross would be about $360k assuming an average selling price of $2.6 million. Out of that she pays agency fees, listing fees, assistants and other expenses. I would guess she would be lucky to clear $200k minus taxes. Maybe less or even a loss if she still has the overhead from the previous years where she was selling 5 times the amount. Most businesses can’t take over an 80% revenue cut from one year to the next and still make money.

bullwhip29
bullwhip29
11 months ago
Best place on meth
Best place on meth
11 months ago
Reply to  bullwhip29

I demand meng be thrown in solidarity confinement until the scumbags free Kovrig and Spavor.

southseacompany
southseacompany
11 months ago

“There are currently more than 25,000 empty houses in Vancouver: report” Daily Hive

https://dailyhive.com/vancouver/empty-homes-vancouver-report

“Investor speculation and short-term rentals are the main culprits behind high vacancy rates in Canada’s largest cities, whereas decreasing populations, combined with fluctuations in local economies, are also contributing to the increase in the number of vacant homes across the country, according to a new report from Point2Homes.”

“The number of empty dwellings in Vancouver went up 9.6% between 2006 and 2016.”

patriotz
11 months ago

““There are currently more than 25,000 empty houses in Vancouver: report”

Headline is wrong. Article does not mention “houses”. It talks about “homes” or “dwellings”. Also “currently” is wrong, the most recent data cited is from 2016.

Shut It Down Already (original)
Shut It Down Already (original)
11 months ago
Reply to  patriotz

They’re also an order of magnitude away from the city’s own empty home data as documented in the “Empty Homes Tax Annual Report” which states 2538 empty homes as of 1st November 2018.

patriotz
11 months ago

Also note that CoV “empty home” status does not apply to part of a principle residence, e.g. suites or non-strata duplexes.

Shut It Down Already (original)
Shut It Down Already (original)
11 months ago
Reply to  patriotz

And does trivia that make a material difference here?

No.

Specuskeptic
11 months ago

I hate learning new things. Thanks for shutting that down there SIDA. Can’t let people bring facts and details to the board… or positive, non racist discussion. *thumbsup

Shut It Down Already (original)
Shut It Down Already (original)
11 months ago
Reply to  Specuskeptic

Where did I say he can’t bring facts or details? I merely pointed out that this nugget of information is largely irrelevant in this instance.

Specuskeptic
11 months ago

It looked to me like you were attempting to chill the discussion. Quite often, a rhetorical question like the one you asked, structured the way it was and in that context is a means to do that. It’s an issue of tone and yours came off as hostile.

Shut It Down Already (original)
Shut It Down Already (original)
11 months ago
Reply to  Specuskeptic

Hmm, maybe you’re right. Perhaps I’m just used to patriotz interjecting with irrelevant nonsense while leaving hate speech unchallenged.

patriotz
11 months ago

As well, the “empty home” status does apply to applicable properties which are rented out as little as 6 months a year. So it’s not a count of the number of applicable properties which are empty at any given time.

Specuskeptic
11 months ago

An account of the recent rival protests in Vancouver.
https://thetyee.ca/Analysis/2019/08/21/Hong-Kong-China-Protesters-Vancouver-Face-Off/

My favourite part was when the “nationalists” showed up in Ferraris and McLarens.

Best place on meth
Best place on meth
11 months ago
Reply to  Specuskeptic

Great piece, and it’s truly incredible what’s going on in our country. The links within the article must be read as well, especially from Australia. To see scumbag commie chinese on our soil or in other western countries having Nazi type rallies in support of their hideous totalitarian shithole is enraging, but when they cross that line to threaten, intimidate, harass and assault the pro democracy, pro Hong Kong demonstrators, I literally want to machine gun these fucks. They do not deserve to set foot in our country. Get rid of every single fucking chinese student in our country now! “During the protest, an elderly man holding a sign supporting freedom in Hong Kong was escorted away by police after being surrounded and verbally abused by mainland protesters. “He’s being protected by the police, otherwise we’d beat him to death,”… Read more »

Specuskeptic
11 months ago

These specific people in Canada acting as agents to promote an agenda for a foreign, hostile, nation, are a bigger problem than Meng, embargoed canola, or two kidnapped Canadians. I can only hope and assume police and security agencies had their cameras rolling.

Best place on meth
Best place on meth
11 months ago
Reply to  Specuskeptic

These specific people acting as agents do represent the general viewpoints of the vast majority of mainland chinese.

This is why I don’t trust a single mainlander, unless they denounce the communist party which almost none will do.

If they don’t well then….it’s on.

xhistory
xhistory
11 months ago

The Tyee fish, and Nazi whale/words of revolution, beyond the pale/They come in fours, the uniform/Soft touches piano, soprano voices/What have I become? world of choices/Rise to the air, do you dare? Intellect forces

Best place on meth
Best place on meth
11 months ago
Reply to  Specuskeptic

More harassment from the subhuman chinazis: Canadian police escort worshippers as ‘bullying’ pro-China protesters surround church holding prayers for Hong Kong

https://www.scmp.com/news/china/society/article/3023369/canadian-police-escort-worshippers-bullying-pro-china-protesters

I’m glad this is happening though, the evil scum have finally pulled off their masks and shown us who they really are.

It’s time to deal with them.

Shut It Down Already (original)
Shut It Down Already (original)
11 months ago
Reply to  Specuskeptic

TLDR; two opposing groups peacefully protested at the same location then went home again.

Best place on meth
Best place on meth
11 months ago

You fucking mainland piece of shit!

Shut It Down Already (original)
Shut It Down Already (original)
11 months ago

Tell me where the article says anything else.

Best place on meth
Best place on meth
11 months ago

I thought you said you didn’t read the article, you lying mainland dirtbag.

Shut It Down Already (original)
Shut It Down Already (original)
11 months ago

Idiot. That’s not what I said. I presented a summary of the article.

But changing the subject is all you have.

Best place on meth
Best place on meth
11 months ago

You shouldn’t use TLDR if you don’t know what it means,

Frequently used acronym by lazy, ignorant people in Internet Forums, where their urge to type something exceeds their ability to read something or if they generally lack semantic ability to either comprehend or respond to a post due to underdeveloped brain.

Stating that they were to lazy reading someone else’s post just confirms the ignorant attitude and also often destroys the discussion in the thread.

Shut It Down Already (original)
Shut It Down Already (original)
11 months ago

Stop embarrassing yourself.

TLDR is defined as “Used as a dismissive response to a lengthy online post, or to introduce a summary of a lengthy post” by the OED.

I used the latter form, and quite correctly too. And you still can’t argue my point.

Best place on meth
Best place on meth
11 months ago

It means TOO LONG, DIDN’T READ.

There is no ambiguity around the words “DIDN’T READ”, you illiterate, English challenged lying mainland cunt.

What does “DIDN’T READ” mean to you?

It’s just two words and it’s pretty fucking simply to understand what they mean.

I can argue your point plenty once you admit you either didn’t read the article or you’re a liar.

I predict you’ll do neither because, you’re you.

Shut It Down Already (original)
Shut It Down Already (original)
11 months ago

Idiot, I gave you the Oxford English Dictionary definition.

By saying “TLDR; something something” you’re presenting a short summary to others who may find the article too long to read (after reading it yourself).

But good grief. It’s likely you’re desperately trying to steal the dumbass crown from YVR. Here you go, your highness.

Best place on meth
Best place on meth
11 months ago

Sorry, TLDR

Shut It Down Already (original)
Shut It Down Already (original)
11 months ago

This is why your wife left you, isn’t it?

Best place on meth
Best place on meth
11 months ago

You still don’t understand what “didn’t read” means, cunt?

You mainlanders make me sick.

Best place on meth
Best place on meth
11 months ago

U.S. imposes sanctions on three Chinese accused of fentanyl trafficking

https://nationalpost.com/pmn/news-pmn/politics-news-pmn/u-s-imposes-sanctions-on-three-chinese-accused-of-fentanyl-trafficking-2

What actions has Canada taken against this scourge?

No Moderated Posts
No Moderated Posts
11 months ago

Canada will issue an apology.

xhistory
xhistory
11 months ago

I apologize for this header post, the reaction, and spontaneous combustion that may result in a VCI imbroglio.

https://ca.reuters.com/article/idCAKCN1VB248-OCATP

But Trudeau won’t back down nor escalate.

Best place on meth
Best place on meth
11 months ago
Reply to  xhistory

His hair doesn’t look so good these days.

I want a leader with a nutsack who will immediately expel any chinese who supports the communist regime and ban them for life.

Line up the planes.

paulb
paulb
11 months ago
Hyper-mega-Bull
Hyper-mega-Bull
11 months ago

upvote if you agree that Trump is the “chosen one”

xhistory
xhistory
11 months ago

The American Food and Drug Administration once designated ketchup as a vegetable. Over time Paste of one sort or another is chosen to move up and down the food chain.

https://en.m.wikipedia.org/wiki/Ketchup_as_a_vegetable

Shut It Down Already (original)
Shut It Down Already (original)
11 months ago

He certainly secured his legacy with that artful Greenland deal.

Best place on meth
Best place on meth
11 months ago

What deal?

He asked if Greenland was for sale.

Was there a deal on the table or are you illiterate?

Bubble
Bubble
11 months ago

A tear-down worth $8 million?
1896 Wesbrook Crescent, Vancouver, BC, V6T 1W2 University (UBC) Listing ID: R2397498
https://www.rew.ca/properties/R2397498/1896-wesbrook-crescent-vancouver-bc
And the listing history:
2017-03-01 : $11,998,000
2017-05-13 : $9,600,000
2017-06-12 : $7,990,000
2017-07-14 : $11,680,000
2018-01-17 : $11,780,000
2018-05-04 : $9,980,000
2018-07-04 : $11,900,000
2019-03-14 : $7,980,000
2019-03-25 : $6,980,000
2019-08-19 : $8,380,000 (new listing!)

No Moderated Posts
No Moderated Posts
11 months ago

Tiny NYC condo split into 9 ‘micro units’ with illegal second floor, city says

https://globalnews.ca/news/5788050/condo-illegal-micro-apartments-new-york-city/?utm_source=Article&utm_medium=MostPopular&utm_campaign=2014

The condo’s owner, Xue Pin Ni, faces a maximum penalty of $144,750 in civil fines for building code violations,
The second condo owner, Jin Ya Lin, faces a maximum fine of $139,750.

yup, it figures …

Best place on meth
Best place on meth
11 months ago

That’s proper punishment, unlike the constant wrist slaps these shameless, lawless people get in our country.

Hyper-mega-Bull
Hyper-mega-Bull
11 months ago

This guy is a hero

According to local Hong Kong media reports, Beijing authorities asked Hogg to hand over a list of Cathay Pacific employees who had taken part in the recent anti-extradition bill protests in Hong Kong. Instead of betraying his employees and endangering their safety, he only provided a list of one name — his own.

https://www.taiwannews.com.tw/en/news/3765103

Hyper-mega-Bull
Hyper-mega-Bull
11 months ago

cathay pacific CEO.

Indicating the intimate involvement of the Chinese Communist Party (CCP) in the investigation of the airline, Hogg’s resignation was first made public by Chinese state-run media outlet CCTV at 4:50 p.m. on Aug. 16. It was not until 5:14 p.m. that Cathay Pacific itself officially announced that Hogg was stepping down as CEO, leading to speculation that his resignation was the result of pressure from Beijing authorities.

xhistory
xhistory
11 months ago

That’s interesting, because the opposite revolutionary tactic is to take a passenger jet and outfit it as a missile.

bullwhip29
bullwhip29
11 months ago

more fun and games at Richmond Costco…
https://streamable.com/74t1c

these two apparently jumped the queue just as staff opened the store, ran right past the door man, ignored numerous folks screaming at them to stop, then darted off to the clothing section where they proceeded to grab each and every Tommy Hilfiger jacket that went on clearance. naturally, whatever inventory they can’t sell will be returned at a later date for a full refund.

bullwhip29
bullwhip29
11 months ago

Last Friday, Surrey Crown Counsel approved criminal charges following the arrest of 44-year-old Chao Chen, the driver allegedly responsible for killing 19-year-old Olivia Malcom
https://www.delta-optimist.com/news/charges-laid-in-the-fatal-ladner-crash-that-claimed-teenager-1.23922555

Chen was taken into custody and subsequently brought before a Justice of the Peace whereupon he was released on a number of conditions

bullwhip29
bullwhip29
11 months ago

China warns Canada to ‘stop its wrongdoing’ over Meng Wanzhou arrest, Hong Kong comments
https://globalnews.ca/news/5793653/china-comments-canada-meng-wanzhou-arrest/

No Moderated Posts
No Moderated Posts
11 months ago
Reply to  bullwhip29

“the Canadian government should “stop its wrongdoing before it’s too late.”

Too late for what? More of the invasion ?

Best place on meth
Best place on meth
11 months ago

Is it too late to revoke her bail and throw her ass in prison?

bullwhip29
bullwhip29
11 months ago

Richmond vacation rental firm dips toes into running hotels
https://www.richmond-news.com/business/richmond-vacation-rental-firm-dips-toes-into-running-hotels-1.23921229

>>> illegal massage parlour operators going legit?

No Moderated Posts
No Moderated Posts
11 months ago
Reply to  bullwhip29

“primarily aimed at Chinese-speaking markets ”

so much for “integration” and “multiculturalism” …

bullwhip29
bullwhip29
11 months ago

The sister of the 42-year-old man who was stabbed to death on a Richmond bus is still stricken with grief, almost a month to the day her brother lost his life
https://www.richmond-news.com/news/sister-of-fatal-stabbing-victim-on-richmond-bus-speaks-out-1.23921740

“It has been almost a month and we still don’t know anything. We’ve been told very little about the man arrested or what happened on the bus…”

bullwhip29
bullwhip29
11 months ago
No Moderated Posts
No Moderated Posts
11 months ago
Reply to  bullwhip29

two bike-riding teenagers were being chased by the car, prior to the incident, and that one of them was dragged under the SUV.

A “luxury SUV” no doubt …

bullwhip29
bullwhip29
11 months ago

in the dark of night, fled the scene…

bullwhip29
bullwhip29
11 months ago

British Columbia experiences jump in consumer insolvencies
https://www.cbc.ca/news/canada/british-columbia/consumer-insolvencies-go-up-1.5254141

bullwhip29
bullwhip29
11 months ago

Seized Beijing skyscraper sells online for a ‘bargain’ $734M
https://www.cnn.com/style/article/pangu-plaza-guo-wengui/index.html

Simple Solution
Simple Solution
11 months ago

ABBY update…

2 moor price changes UP!!!!! That brings the total changes up this month to 4. Total changes down this month 136.

The Valley remains on fire. Oracle ‘observations’ useful as always…

southseacompany
southseacompany
11 months ago

“Metro Vancouver has gone a year without a house price increase”, Vancouver Courier

https://www.vancourier.com/real-estate/metro-vancouver-has-gone-a-year-without-a-house-price-increase-1.23921080

“The latest report from Teranet and National Bank shows the region’s house price index fell one per cent from June to July. It was the twelfth consecutive month without an increase. Metro Vancouver was also the only metropolitan area surveyed that saw its index fall in July”

southseacompany
southseacompany
11 months ago

“Vancouver Luxury Housing Market Is World’s Weakest For A Year Straight Now”, Huffington Post

https://www.huffingtonpost.ca/entry/luxury-housing-vancouver-toronto_ca_5d5adc36e4b04e1e14de81fd

“New York, London and Shanghai are among the cities seeing falling house prices these days.”

“It’s hard to lose money in real estate these days, almost anywhere, but Vancouver is among an elite group of cities where the wealthy are doing just that.”

xhistory
xhistory
11 months ago

Buyer Remorse must have a No Go zone flashing around it, that is, NoRegrets is the tag line for the Realtor.ca ads on TV. The point is that Buyer Remorse must be huge concern in this market given the PR deployed to mitigate.